New England Research & Management Inc. Has $1.88 Million Position in Veeva Systems Inc. $VEEV

Key Points

• New England Research & Management boosted its stake in Veeva by 274% in Q4, now owning 8,415 shares valued at about $1.878 million.
• Veeva beat quarterly estimates (EPS $2.06 vs. $1.94; revenue $835.95M vs. $810.95M, +16% YoY) and its board authorized a $2.00 billion buyback (up to ~5.5% of shares).
• Institutional ownership is high at ~88.2%, with several large funds materially adding positions, and analysts hold a consensus "Moderate Buy" with a target price of about $283.70.

New England Research & Management Inc. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 274.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,415 shares of the technology company's stock after acquiring an additional 6,165 shares during the period. New England Research & Management Inc.'s holdings in Veeva Systems were worth $1,878,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jensen Investment Management Inc. boosted its holdings in Veeva Systems by 1,924.5% in the third quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company's stock worth $123,100,000 after purchasing an additional 392,802 shares in the last quarter. Principal Financial Group Inc. increased its position in Veeva Systems by 11.2% during the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company's stock worth $1,146,040,000 after buying an additional 388,864 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in Veeva Systems during the third quarter valued at about $422,241,000. Compass Wealth Management LLC bought a new position in Veeva Systems during the third quarter valued at about $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Veeva Systems in the third quarter worth about $246,625,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen lowered Veeva Systems from a "buy" rating to a "hold" rating in a report on Sunday. KeyCorp reissued a "sector weight" rating on shares of Veeva Systems in a research note on Friday, December 12th. Wells Fargo & Company reduced their target price on Veeva Systems from $333.00 to $317.00 and set an "overweight" rating for the company in a report on Thursday, March 5th. William Blair reaffirmed an "outperform" rating on shares of Veeva Systems in a research report on Tuesday, March 10th. Finally, Royal Bank Of Canada lowered their price target on Veeva Systems from $330.00 to $275.00 and set an "outperform" rating on the stock in a report on Thursday, March 5th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $283.70.

Insider Activity at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the sale, the insider directly owned 23,204 shares of the company's stock, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.30% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $184.16 on Friday. The stock's 50-day moving average is $194.75 and its 200-day moving average is $240.55. The company has a market cap of $30.27 billion, a P/E ratio of 34.04, a P/E/G ratio of 1.22 and a beta of 1.09. Veeva Systems Inc. has a 52-week low of $168.13 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The business had revenue of $835.95 million during the quarter, compared to analysts' expectations of $810.95 million. During the same quarter in the previous year, the firm earned $1.74 EPS. The firm's revenue was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, equities analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems declared that its board has approved a stock buyback plan on Monday, January 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Veeva Systems Profile

Veeva Systems NYSE: VEEV is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva's product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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